BTC/USD Medium-term Trend: Ranging
- Resistance Levels: $6,800, $6,900, $7,000
- Support levels: $3,600, $3,500, $3, 400
Yesterday, February 11, the BTC price was in a sideways trend after the crypto attained the $3,736.90 price level. The sideways trend has resulted in the breaking below the 12-day EMA. If the bears complete the breaking of the 12-day EMA and the 26-day EMA, the crypto will find itself in the bearish trend zone.
On the downside, if the bears break the EMAs, the crypto will be in the bearish trend zone. This will result in the crypto falling in value. On the upside, if the bulls sustain a price above the EMAs the crypto’s price will rise. The BTC price is expected to reach the highs of $3,800 and $4,000 price levels. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The BTC price is above the 12-day EMA and the 26-day EMA which indicates that price likely to rise.
BTC/USD Short-term Trend: Ranging
On the 1-hour chart, the BTC price is in the sideways trend zone. The 12-day EMA and the 26-day EMA are trending horizontally. The crypto’s price is ranging above the $3,600 price level and below the EMAs.
In the 1-hour chart, the crypto’s price is likely to fall because the price is below the EMAs. Meanwhile, the BTC price is below the EMAs which indicate that price is in the bearish trend zone. The MACD line and the signal line are below the zero line which indicates a sell signal.
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